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Fibonacci Retracements Analysis 25.01.2017 (EUR/USD, EUR/GBP)

Article By RoboForex.com

EUR USD, “Euro vs US Dollar”

The EUR/USD pair is still being corrected. The closest target is the retracement of 50%, which is confirmed by local fibo-levels. If later the price rebounds from this area, bears may try to reverse the market to the downside.

As we can see at the H1 chart, the pair rebounded from the group of local fibo-levels, which means that it may continue moving upwards. The closest target is the area at 1.0835 – 1.0810.

 

EUR GBP, “Euro vs Great Britain Pound”

The EUR/GBP pair is still being corrected to the downside. The closest target is the retracement of 61.8% at 0.8515. if later the market rebounds from this level, it may resume moving upwards.

As we can see at the H1 chart, the price moved very close to the group of fibo-levels at 0.8520 – 0.8500. Possibly, the market may rebound from this area and start a new bullish correction, at least.

 

RoboForex Analytical Department

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.

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About Louie Lewis

Louie Lewis
Successful forex trading starts with you first. Then comes the actual strategies and techniques. I have been involved with forex and forex trading for a few years now. It is a wonderful way to build wealth. The learning never stops and I want to help others along their journey into this wonderful market of opportunity.

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